MoraBanc Reports €62.5M Profit, Record Assets in 2025 Approval

MoraBanc shareholders approved the bank's 2025 accounts yesterday, recording a net profit of 62.5 million euros—an 8% increase from 2024—and assets under management reaching a record 20.141 million euros.

The general shareholders' meeting, held at the bank's auditorium, endorsed all proposals, including a dividend payout of 40 euros per share. Key financial metrics underscored the entity's strength: a return on equity (ROE) of 14.86%, a solvency ratio (CET1 fully loaded) of 20.52%—the highest in Andorra—and a liquidity ratio (LCR) of 298.76%. Credit activity grew 14% to 1.726 million euros, while the non-performing loan ratio hit a historic low of 2.08%.

CEO Lluís Alsina highlighted the bank's strategic push into four markets: Andorra, Spain, Switzerland, and Miami. Last year, MoraBanc acquired full ownership of Banco Europeo de Finanzas (BEF) in Spain, now rebranded as MoraBanc. Alsina noted Spain as a natural extension, given the many clients from Catalonia, Valencia, and the Basque Country. The bank aims to operate fully there by mid-2027, following technological upgrades and a planned merger with the former BEF in November. He added that a Spanish banking licence would ease expansion across Europe.

President Joan Maria Nin reaffirmed the bank's commitment to Andorra, regardless of progress on the Principality's EU association agreement. "We are part of this country," he said, stressing obligations to the sovereign nation. Nin described 2026 as a year of consolidation after recent acquisitions, including the Sabadell deal.

Alsina dismissed concerns over rising housing prices or mortgage strains fuelling credit risk, citing the low default rate amid ongoing real estate developments. He welcomed population growth—driven by high-income immigration accelerated by Covid-19—as it brings more clients, though he voiced personal worries about pressures on mobility, healthcare, and security.

Nin pointed to global challenges from the Russia-Ukraine war and Middle East tensions, warning of inflation risks from energy costs but ruling out immediate recession. He emphasised maintaining system liquidity to support Andorran businesses.

The meeting also re-elected two board members for three years: Marc Mora as proprietary director and Rita Estévez Luaña as independent representative, both for Mora Fills, SA.